Yingli Green Energy has announced that its wholly-owned subsidiary, Yingli Energy (Yingli China), has entered into a framework agreement with United Photovoltaic Group Limited (United PV) for the acquisition of China-based solar PV plants to be developed and constructed by Yingli Green Energy. United PV is a company listed on the main board of Hong Kong Stock Exchange.
According to the agreement, United PV will acquire at least 300MW of large-scale solar energy systems, which is eligible for certain criterions, from Yingli China from 2014-2016. The plants are located mainly in Hebei, Guangxi, Shanxi, Shandong, and other provinces. Yingli China's wholly-owned project companies will have 100% equity in the power plants, and are responsible for their development, construction, and operation. United PV will acquire the project companies from Yingli China after the grid-connection and inspection to meet certain criterions addressed in the agreement, said Yingli.
